August 2019

5 Ways to Prepare for the Next Recession

According to a survey by GOBankingRates, 68 percent of Americans do not have a recession investment strategy in place. Here are five ways you can think ahead and prepare yourself for the next recession. 1. Start an Emergency Fund  Saving a little cash whenever possible will help you accumulate a financial cushion in case you get laid off. . 2. Consider a Side Job 
Diversifying your income will lessen the blow to your bank account if you happen to lose one of your jobs. 3. Pay Off Your Debts
 Pay off any credit card balances you have now to avoid future interest rates, as you may not have the money to do so in the future. . 4. Make Yourself an Indispensable Employee
 A recession means cut backs at work, so it’s important to work hard and position yourself as an essential employee. . 5. Be Ready to Job Hunt
 Just in case you have to find a job in a pinch, make sure to update your resume and build network connections.